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AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
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Bitcoin breaks all records, surges to a new all-time high of around $67,000: Know reason

Bitcoin has surpassed its previous all-time high of $64,888.99 and managed to reach a new peak of near $67,000. The previous all-time high was reached back in April. The sudden surge in price has occurred due to the first bitcoin futures exchange-traded fund debuting on the New York Stock Exchange.

The Securities and Exchange Commission after eight years of rejecting proposed Bitcoin ETFs finally allowed the ProShares Bitcoin Strategy ETF (BITO) to start trading. The ETF attracted the second-most volume on its first day of any ETF.

Critics are saying that the new ETF holds the Bitcoin futures, which will make it into an imperfect proxy for Bitcoin.

The new ETF will encourage traditional advisors and investors to buy Bitcoin for their investment accounts, without having to go to an outside provider.

“This is the beginning of the normalization of digital currency,” said Anthony Denier, the CEO of stock and crypto trading platform Webull. “There’s a lot of excitement in the space, and deservedly so.”

Investors be cautioned

Similar rallies with Bitcoin reaching new heights have seen a huge fall soon after. Bitcoin had grown a lot in market cap in 2017 after the launch of Bitcoin futures, and the market debut of Coinbase Global back in April, but it fell by over 20 percent in a matter of days. Many cautionary investors are claiming that the latest move has started to feel just like those moments.

What is Bitcoin

Bitcoin is a decentralized digital currency without an administrator looking after it. Users can exchange it with each other on the peer-to-peer bitcoin network without the need for intermediaries. All of these transactions are noted in a publically distributed ledger, called a blockchain, which is maintained by people using special computers and as a reward, they are able to get a certain amount of bitcoin, depending on the frequency and transactions. This process is also known as mining, and such people are called miners.

The post Bitcoin breaks all records, surges to a new all-time high of around $67,000: Know reason appeared first on BGR India.



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